In this guide
- 1. Compare the 6 best penny stock apps in 2024
- 2. Best penny stock apps overall for 2024
- 3. What are the best penny stock apps?
- 4. Top 6 penny stock apps, reviewed
- 5. What is a penny stock app?
- 6. How does a penny stock app work?
- 7. How should I choose a penny stock app?
- 8. Should I use a penny stock app?
- 9. Methodology: How did we choose the best penny stock app?
- 10. FAQs
Compare the 6 best penny stock apps in 2024
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Penny stocks are high risk high reward investments that you can invest in using a trading platform or stock app. This beginner friendly guide compares and ranks the best penny stock apps to help you select the most suitable one.
Best penny stock apps overall for 2024
Copy link to sectionWhat are the best penny stock apps?
Copy link to sectionIf you’re ready to start investing right away then check out the list of apps below. They have been selected by our investment experts and are the top apps around to buy penny stocks. Just click on any of the links to get started in minutes, or read on for our comprehensive list.
We found 4 online brokers for users based in
Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC. Crypto trading on Public platforms is served by Public Crypto LLC and offered through APEX Crypto. Please ensure that you fully understand the risks involved before trading.
Top 6 penny stock apps, reviewed
Copy link to sectionWe found 4 online brokers for users based in
1. Plus500. Best for international trading*
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From 0.08%
Fees
$...
Minimum deposit
2800
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to futures contracts for some of the biggest indices.
Plus500 has something for all types of traders, no matter what level of experience. Its low margin requirements (starting at $100) and different contracts make it a top choice for day traders. At the same time, its trading academy is packed with educational content, perfect for beginners just starting.
One of the features we like most about Plus500 is its bonuses. Not only does it have a low minimum deposit of $100, but you’ll also have the option to receive a bonus the first time you add funds to your account, so you can stretch your money a little further.
For accurate instrument availability, visit plus500.com.
The fees: Plus500 charges a commission of $0.49 per Micro contract and $0.89 per Standard contract (per side). There is an Auto-Liquidation fee of $10 per contract. Other exchange fees may be applicable and can be found on the CME group website.
*Based on a comparison of 60+ leading brokers and trading platforms.
Highlights
| Features | Plus500 summary |
|---|---|
| No. of tradable assets | 2800+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSA, ASIC, FMA, FCA, CySEC |
| View more > | Plus500 > |
Buy or sell stock CFDs with Plus500. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2. eToro. Best for beginners, copy-trading & demo-account
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0% commission
Fees
$...
Minimum deposit
1500
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love eToro because it’s a trading platform built with beginners and casual traders in mind. The platform combines an interactive, social trading experience with an easy-to-use interface, making it ideal for novice traders.
The far-reaching catalog of more than 5,500 stocks and ETFs includes big names like Apple and Tesla, as well as smaller companies with high growth potential. You can start trading with as little as $10 using fractional shares if you’re on a tight budget.
One feature we particularly appreciate is the ability to interact with eToro’s 35 million users on any asset, market, or portfolio page. If you find traders whose strategies match your risk tolerance, you can copy their portfolios automatically using eToro’s flagship copy trading functionality. This is a great way to learn and potentially benefit from the expertise of more experienced traders.
If you don’t feel comfortable investing your cash straight away, you can use a free demo account, credited with $100,000 virtual dollars. This offers plenty of opportunities to try out a trading strategy that works for you across stocks, crypto, and options trading markets.
Highlights
| Features | eToro summary |
|---|---|
| No. of tradable assets | 3600+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Index CFDs, Commodity CFDs, NFTs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | ASIC, FCA, CySEC, FinCEN |
| View more > | eToro > |
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. Public. Best for AI analysis
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Spreads
Fees
$...
Minimum deposit
9,000
No. assets
No
Demo/virtual account
Pros & Cons
Overview
We love Public because it makes use of cutting-edge AI technology to enhance your trading and investing experience. Public’s AI-powered feature, Public Alpha offers personalized insights and recommendations through its natural language interface in real time.
Public’s AI technology helps you make more informed decisions by analyzing massive amounts of data and providing actionable insights. These AI-driven insights are easily accessible and give users access to the latest advancements in financial analysis and trading.
Not only do can you use AI to help your investments, Public is one of the lowest cost brokerage firms out there. You can invest in stocks and ETFs commission free. You can also buy and trade fractional shares and if you want to diversify, you can explore a range of alternative investments including music and film royalties.
The fees: There are no fees for investing in stocks during regular trading hours in the US – 9.30am-4pm EST. There is a $2.99 fee for trades outside of regular hours.
Highlights
| Features | summary |
|---|---|
| No. of tradable assets | 9,000 + |
| Min. Deposit | $20 |
| ID verification required | Yes |
| Free demo account | No |
| Supported assets | Stocks, ETFs, Cryptocurrencies, Options, Bonds, Royalties |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | SEC, FINRA, SIPC |
| View more > | > |
What is a penny stock app?
Copy link to sectionIt’s an application that allows you to trade penny stocks from your mobile device. Most online brokerage firms have both web based and mobile platforms. Penny stock apps can be accessed via your smartphone or tablet and usually offer the same features as desktop versions.
How does a penny stock app work?
Copy link to sectionTo use a penny stock app you will first need to register an account with an online broker. When your account has been created the penny stock apps need to be downloaded onto your smartphone or tablet in order for them to work. Mobile apps allow you to buy and sell penny stocks while on the go and have the same features as desktop or web based platforms.
How should I choose a penny stock app?
Copy link to sectionThere are a number of factors that you should consider when choosing which penny stock app to go with. You’ll want an application that has low fees, good speed, and a good selection of stocks to buy or sell. Below we’ve summarised the key features you should look out for before downloading a penny stock app.
- Range of penny stocks. Not all brokers allow you to access penny stocks, and those that do may have a limited number available. You should check what shares are available on the app you choose to download, and look for an app that offers the best penny stocks under $1 to get the widest selection.
- Fees. Buying and selling penny stocks isn’t free. You’ll likely incur some costs, like commissions and spreads. There’s also deposit and withdrawal fees to think about. You can check your broker’s fee schedule prior to downloading an app.
- Reliability. Penny stocks are notoriously volatile markets so you’ll want to make sure the app you choose is reliable. If an app crashes or goes down a lot, it could make your trading or investing much more difficult.
- Speed. If you’re planning on trading penny stocks then an app that has good connectivity and speed is a must. Markets can move fast so you’ll want to make sure any app you use can keep up.
- Other assets. Most penny stock apps let you trade other assets. If you want to invest in other markets like forex, indices, or commodities, then you should check with your broker if they are available.
- Security. The best apps offer additional security features. Things like 2FA can help keep your account safe with the requirement of a one time passcode when logging in. Apps can also make use of mobile device unlocking features like fingerprints.
- Technical tools. Using technical indicators is a good way to analyse price charts and can help with timing your trades or investments. Make sure you check with your broker what type of technical tools are available.
Should I use a penny stock app?
Copy link to sectionIf you invest in or trade penny stocks then using an app could be a good idea. Apps make it easy to check up on your portfolio while on the go although they do have some limitations which can make trading difficult. The size of the screen you have on your smartphone or tablet is smaller than a computer or laptop which can make chart analysis more difficult.
What are the risks of using a penny stock app?
Copy link to sectionUsing a penny stock app is generally safe, although investing in and trading penny stocks is considered a risky strategy. Below we have included the benefits and risks of using a penny stock app
Benefits
Copy link to section- Free to download
- Access to other assets
- Demo accounts available
- Potential for large profits
Cons
Copy link to sectionWhat are the fees for using a penny stock app?
Copy link to sectionUsing a penny stock app is usually free although investing in and trading comes with some costs. Some apps charge commission for each transaction you make and all brokers charge spreads (the difference between the buy and sell price). Before signing up for a penny stock app it’s a good idea to check your broker’s fee structure.
Methodology: How did we choose the best penny stock app?
Copy link to sectionHelping people make better financial decisions is at the heart of our mission at Invezz.
We periodically test more than 63 penny stock apps and platforms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of industry experts, analysts, and active traders who sign up to each platform, conduct research, and score each service.
Our tests are designed to find penny stock trading services that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.
Each penny app is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.
We work closely with individual brands to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.
FAQs
Copy link to sectionWhat is the best penny stock app overall?
Is it risky to use a penny stock app
What is a penny stock?
Why don’t more brokers list penny stocks?
More of the best platform rankings
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